A week of adjustment after the recent declines which shows less significant changes compared to previous weeks, with slightly decreasing volatility and with Ethereum gaining around 2%. Bitcoin unchanged.
The lows recorded last Saturday evening are very incisive: $ 17,550 for Bitcoin and $ 870 for Ethereum, should hold at least for a while.
Certainly, the break of $ 20,000 for Bitcoin, which represented the high of the first wave of 2018, is a very negative signal even if it was promptly resumed with two bullish bars. As long as we are above $ 20,000 there is the possibility of a reversal with the breaking of the resistance in the area of $ 22,500, at the moment Bitcoin is quoted at $ 20,800.
Ethereum must also rise above $ 1,240 to reverse the supertrend, currently $ 1,134.
From what some analyses reveal, 56% of the addresses still boast a greater value than at the time of the acquisition of their coins, raising doubts about the gravity of the current bear market. Certainly, profitability has collapsed from historical highs and before proceeding and resuming a serious bull market, it will still take some time.
Of course, the advent of derivatives has accelerated and speeded up liquidations, something that, 4-5 years ago, before the collapse of the first wave, was not envisaged as an operating mode.